Specialty coding and billing services for a hospital’s GI endoscopy labs can be life changing. Healthcare providers do not get paid for their medical services unless they record their work correctly and then issue the appropriate codes. If the codes are incorrect, the claim can be rejected, no matter how life-saving or essential the treatment was. If they operate in private offices, outpatient medical facilities, or outpatient surgical centers, the livelihoods of providers rely on correct coding.
Coders operate hand in hand with medical billers, who ensure that invoices are paid up correctly. Hospital medical coders are responsible for carefully perusing the medical record of a patient, extracting the key details, and assigning the correct claim code. A good coder needs a solid medical vocabulary and human anatomy history, and has to have a handle on the nitty-gritty of insurance policies, legislation, and regulations.
Practices may employ in-house workers for coding and billing, but the argument for outsourcing medical coding and billing for your hospital’s GI endoscopy labs billing is persuasive. The complexities of recruiting and retaining these workers will unduly tax the profession. Instead, dedicated coding and billing services will improve workflow, increase revenue, and increase compliance. The following are reasons why you need specialty coding and billing services for your GI endoscopy labs billing.
Fortis Medical Billing, a medical coding and billing service for your hospital, will streamline processes, ensuring effective and consistent improvements in the workflow. Well-run systems delegate each individual healthcare practice a manager to ensure a seamless transition from medical documentation to coding to billing. Full-time, 24/7 on-call systems remove any lag between services rendered and claims submission. We have coders trained in GI endoscopy labs billing so that they do not waste time attempting to decode the medical records received.
Coding and Billing for Revenue
Denial of claims is one of the major cash flow issues for healthcare practitioners. Coding and billing errors are few and far between thanks to competent, well-trained personnel at a medical coding and billing company like Fortis Medical Billing. Fewer mistakes mean better recovery and higher revenue.
Coding and billing companies also have their eyes on the pulse of best practices in the healthcare revenue process. Experience with the complexities of the process maximizes income by ensuring that practitioners’ hours are transformed into the most valuable billable services.
Compliance is a critical matter when it comes to coding and billing. Medical coders must follow laws that are meant to deter fraud, such as those relating to the processing of claims, billing claims, and disclosure of health details. They have to be up to date on government legislation and HIPAA guidelines. A strong coding and billing service is deeply familiar with these rules.
Why Hire a Specialty Coding and Billing Service?
While some companies provide in-house medical coding and billing, most organizations tend to outsource medical coding and billing for its many advantages. Organizations that work with a medical coding and billing company dedicated solely to ensuring the medical process of the organization is as smooth, effective, timely, and accurate as possible are seeing substantial improvements in their bottom line. Just a few of the advantages of outsourcing services through medical coding include:
An outsourced medical coding company will scale up to the patient volumes—representing fluctuations that are common to seasonality, changes in the economy, etc.—without the hassle of adjusting the workforce.
Greater Budget Predictability and Reduced Overhead
Outsourcing saves vital money needed to pay high salaries and insurance packages. Outsourcing medical coding and billing may allow organizations to save resources and money associated with hiring staff for the job.
Revenue Cycle Improvements
In large practices or health systems, coding backlogs often occur, particularly when the volume is high or there are staffing issues due to work vacancies or vacation season. This can easily contribute to issues with cash flow. Outsourcing of medical coding and billing services allows for a full-time emphasis these jobs. Prompt, reliable coding and billing processes will help to restore healthy cash flow.
Evaluating the Medical Coding and Billing Services of Your Company
Much like healthcare itself, since its inception, medical coding and billing has been a dynamic sector. In this sector, there are many factors that are continually evolving. Below are some common issues to deal with when evaluating the programs or roles for medical coding and billing.
Do your coders keep updated with the new sets of codes? Codes are constantly changing, which requires ongoing education and attention to the latest code sets. Many busy healthcare organizations don’t have the time or money to send everybody to school, which can lead to mistakes that can lead to payment delays.
Do your teams have the right level of coding? Coding is an objective science — you want your coding team to always code to the same standard of services rendered. Under-coding may trigger denials or leave the money the teams have received on the table. Over-coding will lead to a whole barrage of regulatory problems and potential fines. Ensuring that the coding staff understands medical terminology and can extract the right details from the record is the secret to effective coding.
Does your company have the proper checks and balances? Let’s face it—everybody makes errors. Continued performance reviews in every healthcare organization are vital to ensuring that coding and billing are at the highest level of accuracy. Regular audits and the use of intelligent workflow tools will help to ensure accuracy.
Our Medical Coding Service Experts
Fortis GI Endoscopy Labs Billing provides professional and reliable medical coding services for many healthcare practices. Our customers profit from:
- Experienced medical coding and billing services
- A network of more-than-qualified industry professionals
- Corporate security certifications
- A 95% success rate for securing payments
- No setup fees
Get in Touch with Fortis Medical Billing Today for Your Hospital’s GI Endoscopy Labs Billing
Fortis Medical Billing’s hospital coding customers minimize operational and capital costs by optimizing staff, procedures, and technologies, raising sales, improving patient loyalty, and increasing productivity. To speak with one of our senior consultants, fill out our online form or call us at (866) 808-4160.
Dr. Nick Oberheiden is a federal attorney with 20 years experience in healthcare compliance and defending healthcare providers.
Dr. Stephen Taylor has 25 years as a medical billing specialist and consultant in medical, chiropractic, nursing, and physical therapy.
Ms. Beverly Gibson has been a health care consultant for more than 25 years and specializes in medical record auditing, E/M training, and audit risk mitigation.